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Colony Capital
| founder = Thomas J. Barrack Jr. (Chairman) | industry = Private equity real estate | products = Real estate | assets = | num_employees = | num_locations = 17 (2017) | former_name = Colony Capital (1991-2017) | foundation = | location = Los Angeles, California, United States | homepage = }} Colony Capital is an American international investment firm based in Los Angeles, California. The company has over 500 employees operating in 17 offices around the world. The company focuses on real estate opportunities around the world either on its own, through funds run by the company, or in joint ventures. In particular, Colony Capital invests in real estate and real estate-related debt investments, real estate-dependent operating companies, non-performing loans, distressed assets and select development opportunities throughout the world. The company is run by businessman Thomas J. Barrack Jr. In 2010, Colony was reported to manage about $30 billion in investments."Private equity firm snaps up chance to help Leibovitz put house in order" by Henny Sender, Financial Times, March 9, 2010 02:00, Retrieved 2010-03-09. In 2011, Colony was tied for 3rd largest private equity real estate fund in the world, behind Blackstone Group and Morgan Stanley Real Estate.Perenews.com History Early investments Colony purchased Raffles International on July 18, 2005. This included the 41 hotels and resorts operated under the Raffles Hotel and Swissotel brand names. There are plans to expand the chains, particularly in Asia. On January 30, 2006, it acquired Fairmont Hotels and Resorts of Toronto, Ontario with Kingdom Hotels International as a joint partner for US$3.24 billion. In April 10, 2006, it acquired French professional football team Paris Saint-Germain. On February 25, 2007, it signed a definitive agreement to take Station Casinos private in a 75%/25% split with members of the founding Fertitta family for US$5.5 billion, or US$90/share. The subsequent economic downturn caused Station Casinos to declare bankruptcy in 2009, and when it emerged in 2011 Colony Capital owned a much smaller portion after providing more cash. Law360.com Founder, Chairman, and CEO Thomas Barrack said it "could have been the worst investment ever" in terms of timing.Perenews.com On November 11, 2008, Michael Jackson transferred the title of his 2,700 acre estate Neverland Ranch to Sycamore Valley Ranch Company LLC, a joint venture between Jackson (represented by attorney, L. Londell McMillan) and an affiliate of Colony Capital.Taletela.com, Michael Jackson's Neverland ranch is sold Tmz.com, Neverland May Be Jacko's Ticket to VegasUkpress.google.com, Jacko gives up Neverland ranch deed News.yahoo.com, Michael Jackson gives Neverland to corporation It is still unclear whether Colony Capital has a part in the property.Sbcvote.com Jackson earned a total of US$35 million when he agreed to the joint venture between himself and Colony Capital.Eonline.com, Michael Jackson Lets Neverland Fly AwaySmh.com.au, Neverland peters out for pop's Peter Pan In March 2010, Colony arranged a financing and marketing package for Annie Leibovitz. The New York celebrity photographer had been in financial difficulty and in danger of losing to her previous lender, ArtCapital, the rights to her photographs and negatives and her three Greenwich Village townhouses. ArtCapital's credit was for $24 million. In December 2010, Colony purchased Miramax from Disney with Qatar Investment Authority, Tutor-Saliba Corporation and The Weinstein Company as part of a joint venture called Filmyard Holdings for $663 million. Recent investments In January 2017, Colony NorthStar, Inc. (NYSE: CLNS) was formed through a tri-party merger between Colony Capital, Inc. (NYSE:CLNY), NorthStar Asset Management Group Inc. (NYSE:NSAM) and NorthStar Realty Finance Corp. (NYSE:NRF). In September 2017, Colony NorthStar agreed to sell its Townsend Group unit to Aon for $475 million. In October 2017, Colony entered discussions to purchase The Weinstein Company, a movie and TV production studio that sustained damaged after its co-founder, Harvey Weinstein, was accused of multiple counts of sexual harassment over three decades. In the wake of the Harvey Weinstein sexual assault scandal, in late October 2017, it was reported that Colony Capital LLC had proved hesitant to purchase Weinstein Co. after a week of exclusive negotiations. Fortress Investment Group was also in talks to provide a loan to Weinstein Co. In June 2018, The New York Times reported that Colony North Star had raised more than $7 billion in investments since Donald Trump won the 2016 presidential election. 24 percent of the money came from the United Arab Emirates and Saudi Arabia Types of investments Investment funds The traditional investment portfolio at Colony are their investment funds, in which retail investors pool their funds, such as with mutual funds. Casinos and hotels A large part of Colony LLC investment portfolio involved gaming resorts mainly in the United States. Some were joint projects with Accor Casinos. *Resorts International Holdings was created in July 2005 and was headquartered in Las Vegas, Nevada: **Atlantic City Hilton **Las Vegas Hilton **Bally's Casino Tunica Colony was also involved in investing in luxury hotels and resorts in Asia and North America: *Raffles International **Raffles Hotels & Resorts **Fairmont Hotels and Resorts **Swissotel Other investments * Used to co-own the Paris St. Germain football team. Former properties *Resorts East Chicago now Ameristar Casino East Chicago *Resorts Atlantic City foreclosed References External links Category:Private equity firms of the United States Category:Real estate and property developers Category:Real estate companies of the United States Category:Financial services companies based in California Category:Companies based in Los Angeles Category:American companies established in 1991 Category:Financial services companies established in 1991 Category:1991 establishments in California Category:Companies listed on the New York Stock Exchange